Morning Spread

Morning Spread

Monday 27th January 2014
IndexLevelChg (%)
UK Market6597.02-1.00
Dow Indust Avg15879.11-1.96
S&P 5001790.29-2.09
Nasdaq Composite4128.17-2.15
Nikkei 22515005.73-2.51
Hang Seng21976.10-2.11
IndexLevelChg (%)
Nymex 1m96.96+0.33
Gold Spot1269.48-0.05
GBP/USD1.6519-0.08
GBP/EUR1.2057-0.05
EUR/USD1.3699+0.12
USD/JPY

European stocks fell after a rout in emerging market currencies spurred concern the global economic recovery is faltering. The ESTX 50 (-0.28%), UK Markets (-1.01%), CAC 40 (-0.30%) and the DAX (-0.42%) all posted losses in early trading. RSA Insurance Group Plc fell -1.3% after the Sunday Times reported it is considering scrapping its final dividend to raise funds. Lanxess AG climbed +9% after naming Merck KGaA Finance Chief Matthias Zachert as its new CEO. Vodafone Group Plc lost -5.8% after AT&T Inc said it doesn’t intend to make an offer for the company. BG Group plummeted -14% after saying charges from operations in Egypt and the US hurt 2013 earnings. Imperial Tobacco Group Plc advanced +0.8% after Credit Suisse Group AG listed the company as a takeover target.  

 

Asian stocks declined as concern that the global economic recovery is faltering spurred investors to sell riskier assets. The Nikkei 225 (-2.51%), Hang Seng (-2.11%) and the S&P/ASX 200 (-0.42%) all retreated. Sony Corp fell -3% in Tokyo, pacing losses among Japanese exporters. Toyota Motor Corp slipped -2.1% and Canon Inc dropped -2.5%. Advantest Corp slid -6.1% after the Nikkei newspaper reported that it had probably had an operating loss for the nine months ended December 31st. Tata Motors Ltd tumbled -4.8% in Mumbai after managing Director Karl Slym died in Bangkok. GCL-Poly Energy Holdings Ltd declined -6.3% in Hong Kong after China set a lower than expected target for installed solar energy capacity this year.

 

US stocks sank as a selloff in developing nation currencies spurred concern global markets will become more volatile. The Dow Jones Industrial Average (-1.96%), S&P 500 (-2.09%) and the NASDAQ Composite (-2.15%) all declined. Companies whose earnings are most tied to economic swings dropped. Whirlpool Corp slid -5%. House builders as a group dropped, D.R.Horton Inc slipped -4.9% and PulteGroup Inc fell -4.1%. Boeing sank -3.3% and Caterpillar lost -2.6% for the biggest declines in the Dow. Microsoft Corp added +2.1%, the most in the Dow, as customers bought the company’s game consoles and cloud software last quarter, helping sales beat analysts’ projections. Juniper Networks Inc rallied +6.6% for the biggest gain in the S&P 500 after reporting sales that exceeded analysts’ estimates. Discover Financial Services climbed +2.8% after reporting profit that beat analysts’ estimates as credit card spending and loan demand increased.